2012: The Year in Review (Q3)

July: Barclays chairman quits over Libor-rigging. Scientists say bump in data is cosmic molasses. Kuma Pyongyang TV kav sanz biltin linformasyon. Ramgoolam rat enn lot randevu ek listwar. Ki groser enn telefon bizin ete? Court says Galaxy not as cool as iPad. And how many speak kreol in the air? Do we know how to manage an airline? It's not geography, stupid.

August: Politicians, not our democracy, tired. Dekortikasyon lingwistik JT promye ut. Singapore never chased growth desperately. How low taxes have degraded our environment. 18 miners die over pay dispute. CSR not a good yardstick for our altruism. State proudly hatching traffic frankenstein. Humanity experiences biggest blackout. Mauritius at 56th spot in PISA math ranking. Meet the ABS.

September: Obama gets a little help from new friend. Indian PM worth 10.73 crore. iOS 6 dumps Google Maps.

Read the review for Q1, Q2, Q4.

CSR Not Good Yardstick for Our Altruism

Because Mauritians have always been generous and caring when it came to giving a helping hand to the less fortunate. And that too when tax rates were at more sustainable levels. So why did this thing come into existence? Well it was one of the arrows in the toxic bean-counter's quiver: when growth rates required to sustain his fiscal irresponsibility never showed up he had to become a little bit creative to make up for the shortfall of funds. And as he and his university buddy accumulated policy blunders after policy blunders the tax rates had to keep adjusting as a perusal of budget and other documents will confirm.

Mind you am not saying that some good stuff hasn't been done through the CSR. But nowhere does it come close to the perverse scale of the Sithanen toohrooh.

Duval Wants Poverty Line Redefined

Rs5,000 per month per family may be ok for small families but not for larger ones says the Minister. With that in mind he wants to talk with his colleague at the Finance Ministry about some adjustment for family size.

What do you think about this?

Tax Reform Falls Flat On Its Face

That's what we need to conclude when we consider the solidarity levy of between 3.4% and 5% on profits and 1% and 1.5% on turnover that Sithanen has included in his recent budget. There is also the 2% CSR. And the higher-than-what-they-ought-to-be petrol pump prices. So the real tax rate for corporates and for individuals is getting closer to where it was before Sithanen dismembered our progressive tax system and screwed up our long-term financial plans. And when an independent study warned that he got his tax policy basics wrong he dismissed their findings with typical arrogance.

These new taxes also kind of puts into perspective one of the two pieces of wisdom he posited that anyone aspiring to become Minister of Finance should have: know the effect of taxation on growth rates. Things actually unfolded differently: he moved to a flat tax and the average growth rates of the current government will be the worst in decades. Li mem meyer!